This operating agreement exhibit takes effect if any party takes and disposes of less than its percentage interest share of gas (including casinghead gas) produced and saved during any calendar month. The volume not taken by that party may be taken by any other party or parties.
Arkansas Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 is a legal document that outlines the terms and conditions regarding gas balancing in the state of Arkansas. This agreement is typically used in the oil and gas industry to ensure that the production and consumption of natural gas are controlled and balanced effectively. The main purpose of this Arkansas Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 is to establish a framework for gas balancing activities, which is essential for maintaining the integrity and effectiveness of gas production and transportation systems. It provides a set of guidelines and procedures for measuring, tracking, and adjusting gas flows to prevent imbalances and maximize the utilization of resources. Some relevant keywords associated with this agreement include: 1. Gas Balancing: This agreement focuses on the process of balancing gas supplies to meet the demands of consumers effectively. It outlines the methods and calculations used for measuring and monitoring gas flow rates to ensure that any discrepancies or imbalances are promptly corrected. 2. Operating Agreement: This refers to the agreement between parties involved in the production, transportation, or consumption of gas. It typically includes the rights, obligations, and responsibilities of each party, as well as the terms and conditions governing their interactions. 3. Arkansas: This indicates that the agreement is specific to the state of Arkansas, implying that it complies with the regulations and laws governing the gas industry in this particular region. It is crucial to ensure compliance with state-specific requirements and standards. 4. Exhibit E: Exhibits are additional documents attached to an agreement to provide more detailed information or clarify specific terms. In this case, Exhibit E serves as an appendix or schedule to the Operating Agreement, specifically addressing gas balancing. Some different types of Arkansas Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 may include variations tailored to different entities or specific project requirements. These may involve modifications to the terms, types of gas being balanced, or additional provisions based on the needs of the parties involved. It is essential to consult legal professionals or industry experts to understand the specific variations or adaptations of this agreement that may exist in practice, as they may differ based on the context and specific project requirements.
